Return Path is providing marketers with purchase behavior and market trend data thanks to the launch of the company’s newest Data-as-a-Service solution called Consumer Insight.
Consumer Insight makes email data on more than 2 million consumers’ retail transactions and commercial relationships accessible in an effort to help analysts understand consumer behavior and market trends. The solution works by capturing high volumes of online purchase receipts, which enables analysis into buying preferences and patterns, as well as offers details like SKU-level data, itemized pricing and delivery information. Plus, more offline purchases are also generating email receipts, which enables Consumer Insight to provide even better visibility into customers’ relationships with retail bands.
“No data source offers a richer, more complete view of how consumers spend their time and money than the email inbox,” said Eric Weinberg, Return Path’s president of field operations. “By providing highly detailed information on the buying habits, brand loyalties, and interests of a large, representative consumer sample, Return Path can help research firms, financial services providers, those in the digital advertising ecosystem and global brands understand their markets and their audiences to make better informed, more confident business decisions.”
It is important to note that transactional data from Return Path’s Consumer Insight is available through standardized feeds directly from Return Path and through select partners. What’s more, Consumer Insight data will be integrated with Information Resources, Inc. (IRI) to create an offering for the consumer packaged goods industry that will provide better shopper insights, marketing activation and a holistic approach to measurement.
“IRI is the first data partner to gain deep access to Return Path’s Consumer Insight data, giving IRI clients a significant advantage in gaining a better understanding of their e-commerce activity in the context of their competitive set, plus the interaction that this online activity has with their business in traditional brick-and-mortar retailers and a deeper understanding of their key consumer and shoppers’ new shopper journey,” said Robert I. Tomei, president, consumer and shopper marketing, IRI. “This is an opportunity to create a best-in-class alliance to help clients gain strategic insights from previously unavailable data.”
Consumer Insight data is collected through Return Path’s Consumer Network, which includes more than 2 million email users that grant access to their mailboxes in exchange for the use of email-focused productivity tools developed by Return Path and its partners.